Pantera Capital Raises $71M in Third Crypto Fund; NYSE's Bakkt is First Investment

Third Crypto Fund From Pantera Capital, Venture Fund III, Already Has 90 Investors And Over $71 Million

Pantera Capital is becoming known for their constant efforts to develop cryptocurrency funds, and they have recently launched their third one. There was recently a new filing that the company sent to the U.S. Securities and Exchange Commission (SEC) on Wednesday to announce the project, which is titled Venture Fund III.

Venture Fund III launched their first offering, eliciting the investments from 90 investors so far, of which their contributions amount to $71.44 million. However, the one thing missing from this announcement is how much Pantera wants to add to the fund at this point with new investors. One report by TechCrunch suggests that the firm wants to more than double that, reaching $175 million. At this point, Pantera has not confirmed that goal.

If they manage to reach this lofty goal, it will be the highest number they have accrued. In fact, Venture Fund II only earned $13 million in 2016, while the ICO Fund only reached $25 million, which means that Venture Fund III is already more lucrative than these funds combined.

With their available investments, Pantera Capital issued a blog post on Medium that the fund has already decided to invest in Bakkt. Bakkt is the trading platform initiated by the parent company of the New York Stock Exchange called ICE. This makes them a founding investor of the new project, which is hardly the first time, considering that they have been involved in the crypto exchange industry for about five years.

During Pantera Capital’s lifespan, they have recorded over 10,000% in returns alone. Some of their most popular investments have been with Bitstamp, Korbit, Circle, and even Ripple. Based on the performance of these platforms, consumers should have faith in the way that the company is controlling their investments, both incoming and outgoing.

B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer